This diversification is helping to offset the revenue impact of a product cancellation by our leading Mobility customer.

this diversification is helping to offset the revenue impact of a product cancellation by our leading mobility customer


That is really a best guess and it's based on what we've observed, and I think other companies have observed as well,

that is really a best guess and it's based on what we've observed and i think other companies have observed as well


And that number also includes a 20% increase in domestic new construction activity with the concentration in our higher end brands.

and that number also includes a 20% increase in domestic new construction activity with the concentration in our higher-end brands


there are enough opportunities. Concerning the Chinese economy, we are relatively optimistic. Of course, there are a lot of potential problems,

there are enough opportunities concerning the chinese economy we are relatively optimistic of course there are a lot of potential problems


very aggressive when we go out and we want to be realistic. So 2 to 4 looks extremely good and kind of

very aggressive when we go out and we want to be realistic so 2 to 4 looks extremely good and kind of


right? And Indonesia is the classic model for what this model can do in a downturn, where you can control working capital, still get a return, still creates value,

right and indonesia is the classic model for what this model can do in a downturn where you can control working capital still get a return -- still create value


we have a lot to learn before we do any further rollouts. So we have no plans for any further rollout the rest of this year. What you will see is some of our newer Shacks open with them,

we have a lot to learn before we do any further rollout so we have no plans for any further rollout the rest of this year what you will see is some of our newer shacks open with them


with all localized therapies is that you can deliver the medicine directly into the lung without an overlapping toxicity of a systemic therapy


the brain is adequately perfused to prevent or to ablate dizziness. So you don't see a perfect correlation between blood pressure and symptoms.

the brain is adequately perfused to prevent or to ablate dizziness so you don't see a perfect correlation between blood pressure and symptoms


transfer contacts in customers from one side of the business to the other. And we've done already quite a bit of analysis around understanding

transfer contacts in customers from one side of the business to the other and we've done already quite a bit of analysis around understanding


In late June 2018, we closed on a strategic acquisition related to our Redyard center in Auburn, a suburb of Sydney.

in late june 2018 we closed on a strategic acquisition related to our redyard center in auburn a suburb of sydney


and that is to associate the clinical activity of tipifarnib with the biomarker or some other criteria. And that allows us to enrich the patient population.

and that is to associate the clinical activity of tippifarnib with a biomarker or some other criterion that allows us to enrich the patient population


And we're able to generate new hires off campus in the low double digits, and we've had really good retention.

and we're able to generate new hires off campus in the low double digits and we've had really good retention


Within the Finance practice, consultants continued to support universities and related parties involved in litigation over their employee retirement plans.

within the finance practice consultants continue to support universities and related parties involved in litigation over their employee retirement plans


What I can say definitively, outside of our observations, is that the lead flow in new project originations coming into the firm

what i can say definitively outside of our observations is that the lead flow and new project originations coming into the firm


We also adjusted the IFRS 9 model allowance compared to our original assumptions given the portfolio's good performance in terms of risk.

we also adjusted the ifrs 9 model allowance compared to our original assumptions given the portfolio's good performance in terms of risk


Then the company had the Materials Handling vehicle makers test the batteries for a few more months. Then we finally got the initial purchase order.

then the company have the material handling vehicle makers test the batteries for a few more months then we finally got the initial purchase order


Earnings growth also benefited from a decrease in the provision for credit losses to 20 basis points of average loans compared to 32 basis points last year

earnings growth also benefited from a decrease in the provision for credit losses to 20 basis points of average loans compared to 32 basis points last year


We continue to see strong demand for our Japanese export logs and expect average log sales realizations in the second quarter to be similar to the first quarter.

we continue to see strong demand for our japanese export logs and expect average log sales realizations in the second quarter to be similar to the first quarter


Domestic log inventories are at normal levels, with supply and demand largely balanced as supply returned to the market following first quarter's severe storms.

domestic log inventories are at normal levels with supply and demand largely balanced as supply returned to the market following first quarter's severe storms


Growth in our P2P business, continued deceleration of eBay and lower cross-border volumes contributed to the reduction in transaction take rate.

growth in our p2p business continued deceleration of ebay and lower cross-border volumes contributed to the reduction in transaction take rate


We will continue to return capital to shareholders through our quarterly dividend from a combination of excess cash on hand and earnings for the foreseeable future.

we will continue to return capital to shareholders through our quarterly dividend from a combination of excess cash on hand and earnings for the foreseeable future


In addition, we are leveraging our strong relationships with the publishers to reach their entertainment counterparts and develop additional unique products.

in addition we are leveraging our strong relationships with the publishers to reach their entertainment counterparts and develop additional unique products


We also remained committed to our long-standing strategy to deliver profitable growth through a combination of organic and acquisition growth initiatives.

we also remain committed to our long-standing strategy to deliver profitable growth through a combination of organic and acquisition growth initiatives


Being my last call, I would like to emphasize that it has been a great pleasure to interact with everyone in the last few years.

in my last call i would like to emphasize that it has been a great pleasure to interact with everyone in the last 2 years


many of which are more dependent on driving efficiencies and expanding into new products and new markets than they are on underlying market growth.


Also related to capital allocation, you may have noticed that we made significant share repurchases during the quarter, which Kevin will address later in the call.

also related to capital allocation you may have noticed that we made significant share repurchases during the quarter which kevin will address later in the call


one that is solely in our control, where we can fundamentally change how customers experience Groupon and how merchants can effectively use our marketplace to grow their businesses.

one that is solely in our control where we can fundamentally change how customers experience groupon and how merchants can effectively use our marketplace to grow their businesses


Imagine being able to detect your risk of developing lung cancer with a simple nasal swab collected at the doctor's office or at your local pharmacy.

imagine being able to detect your risk of developing lung cancer with a simple nasal swab collected at the doctor's office or at your local pharmacy


Can you review the timing of the rail rate increases? Did you start paying higher rates on January 1 or is all of the rate increase

can you review the timing of the rail rate increases did you start paying higher rates on january 1 or is all of the rate increase


And when you think of a hotel, we are currently only participating in the chairs -- the upholstery fabric for chairs

and when you think of a hotel we are currently only participating in the chairs the upholstery fabric for chairs


You can measure our success in many ways, but the most important measure is that we have helped millions of people live better lives.

you can measure our success in many ways but the most important measure is that we have helped millions of people live better lives


to predict not only the exact go-live dates for some of these deals, but then how that revenue is going to flow, what uptake is going to be from a variable nature,

to predict not only the exact -- go live dates for some of these deals but then how that revenue is going to flow what the uptake is going to be from a variable nature


and when we adjusted it, the volume came back. Now we did plan that pricing, but we'd planned it much later in the year when green would support it.

and when we adjusted it the volume came back now we did plan that pricing but we planned it much later in the year when green would support it


These pricing actions are in advance of the lower green coffee costs we expect to realize later in the fiscal year.

these pricing actions are in advance of the lower green coffee costs we expect to realize later in the fiscal year


By disproportionately investing in these key growth brands and platforms, we will better align our portfolio with changing consumer eating patterns,

by disproportionately investing in these key growth brands and platforms we will better align our portfolio with changing consumer eating patterns


Obviously, there has been a lot of concerns around Germany given what we've seen from some of the macro data there. Your sales were actually down very modestly.

obviously there has been a lot of concerns around germany given what we've seen from some of the macro data there your sales were actually only down very modestly


the men and women that are out in each of our markets that go to work every day. We think this is one of the best businesses in the country and one of the best

the men and women that are out in each of our markets that go to work every day we think this is one of the best businesses in the country and one of the best


many of the sanctioned projects that are actually coming on are not provided in the quality that gas utilities in particular would look to prioritize.

many of the sanction projects that are actually coming on are not providing the quality that gas utilities in particular would look to prioritize


Simon, I honestly don't think that these things are any different in the context of the way we've thought about

simon i honestly don't think that these things are any different in the context of the way we've thought about


That is why I call our technology transformative. Our imaging technology has created a whole new way of thinking.

that is why i call it our technology transformative our imaging technology has created a whole new way of thinking


on that data, and it's really promising information. So we think that if we can get this on label just as visualization,

on that data and it's really promising information so we think that if we can get this on label just as visualization


taxes and interest expense. Note that this will be the last quarter of coffee dilution as we lap the close of last year's coffee transactions.

taxes and interest expense note that this will be the last quarter of coffee dilution as we lap the close of last year's coffee transactions


I hope and believe that this will create a change in the Americas, but it's too early to say and it's too early to say hurray for the 1 quarter.

i hope and believe that this will create a change in americas but it's too early to say and it's too early to say hooray for the one quarter


You will find a reconciliation table on our website as part of our press release and in the Form 8-K submitted to the SEC.

you will find a reconciliation table on our website as part of our press release and in the form 8-k submitted to the sec


and so that translates to having some screen failures that we originally didn't expect. But it's the right thing for a clinical study and having those

and so that translates to having some screen failures that we originally didn't expect but it's the right thing for a clinical study and having those


as we sit here now given the backlogs we see and discussions we have with customers and public funding developments and all the things we've talked about, I think we would be

as we sit here now given the backlogs we see and discussions we have with customers and the public funding developments and all the things we've talked about i think we would be


In addition, certain transitory cost issues, such as our transition to new more efficient ships, will be behind us by the end of the year.

in addition certain transitory cost issues such as our transition to new more efficient shifts will be behind us by the end of the year


I'm glad to report we have no other aircraft with MAS. The 777 we repossessed is the only one of its kind in our fleet and is 17 years old.

i'm glad to report we have no other aircraft with mas the 777 we repossessed is the only one of its kind in our fleet and is 17 years old


we have really seen shifts in pricing and pricing structures at this point. I mean, at this point, we still have pricing, which has

we have really seen shifts in pricing and pricing structures at this point i mean at this point we still have pricing which has


and dependable mission-critical networks with the lowest total cost of ownership. This has been the foundation for an increase in our win rate.

and dependable mission-critical networks with the lowest total cost of ownership this has been the foundation for an increase in our win rate


and increased our focus on operational efficiencies, which has allowed us to better address the demand of our worldwide customer base.

and increased our focus on operational efficiencies which has allowed us to better address the demands of our worldwide customer base


And in doing so, that, of course, created a great opportunity for our competitors now to go in. Because while they were using one of our products, they chose that product.

and in doing so that of course created a great opportunity for our competitors now to go in because while they were using one of our products they chose that product


On the acquisition front, we're targeting companies that allow us to leverage our network and benefit from our investments in technology.

on the acquisition front we're targeting companies that allow us to leverage our network and benefit from our investments in technology


A wider spread and a global risk environment that doesn't give the impression that there could be a credit

a wider spread and a global risk environment that doesn't give the impression that there could be a credit


it's noticeable relative to the strong trend that you've had over the last 3 years of market share gains in that segment. Can you talk maybe about

it's noticeable relative to the strong trend that you've had over the last 3 years of market share gains in that segment can you talk maybe about


Adjusted results exclude key items which are unusual, nonoperational or restructuring in nature. We believe this approach enhances the understanding of our ongoing business.

adjusted results exclude key items which are unusual nonoperational or restructuring in nature we believe this approach enhances the understanding of our ongoing business


Among these factors are fluctuations in quarterly and annual results, incurrence of net losses, adverse effects of management focusing on implementation of a growth strategy,

among these factors are fluctuations in quarterly and annual results incurrence of net losses adverse effects of management focusing on implementation of a growth strategy


I'd like to point out that many of our employees responded with urgency when a family member, friend, coworker or even a complete stranger needed help.

i'd like to point out that many of our employees responded with urgency when a family member friend coworker or even a complete stranger needed help


reinforce the great things about our communications products, bring friends closer to together and, at the same time, provide more distribution to really high-quality content. So I think we're trying to stay

reinforce the great things about our communications products bring friends closer together and at the same time provide more distribution to really high-quality content so i think we're trying to stay


We also saw gains in ad performance, both in terms of view time and engagement, as well as an overall increase in our average revenue per user when compared to the prior design.

we also saw gains in ad performance both in terms of view time and engagement as well as an overall increase in our average revenue per user when compared to the prior design


This conference call includes forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events,

this conference call includes forward-looking statements any statement that refers to expectations projections or other characterizations of future events


And we feel '19 is exactly in -- is in line and contributing to our overall goals. So we're not really changing our expectations for the

and we feel '19 is exactly in -- is in line and contributing to our overall goals so we're not really changing our expectations for the


Their objective is to support and develop our store managers and our more junior store-level employees so that they will be able to step in the store management positions in the future.

their objective is to support and develop our store managers and our more junior store-level employees so that they will be able to step into store management positions in the future


which began in the second half of 2016, designed to continue to open up capacity in our growing markets and help combat a tight labor market, in particular, the Midwest.

which began in the second half of 2016 designed to continue to open up capacity in our growing markets and help combat a tight labor market in particular the midwest


based largely on a very good cash cost performance at some of our key assets. This came despite stronger currency and higher fuel prices.

based largely on a very good cash cost performance at some of our key assets this came despite stronger currency and higher fuel prices


We have the right plan in place, and we're successfully executing against our plan with the utmost urgency.

we have the right plan in place and we're successfully executing against our plan with the utmost urgency


the process can be delayed when data requirements for customers adding new HMS products is greater than they initially anticipated.

the process can be delayed when data requirements for customers adding new hms products is greater than they initially anticipated


As our product revenue increases and we close more end-to-end solutions sales, we expect to see our recurring revenue base stabilize.

as our product revenue increases and we close more end-to-end solution sales we expect to see our recurring revenue base stabilize


but I do want to call your attention to the breadth of product categories across Building Technologies launched within the quarter and over the last few weeks.

but i do want to call your attention to the breadth of product categories across building technologies launched within the quarter and over the last few weeks


But to be put in context, this adjustment is, obviously, due to the uncertainties in the market and despite this extremely difficult market environment,

but to be put in context the adjustment is obviously due to the uncertainties in the market and despite this extremely difficult market environment


The company does not provide any assurances that such applications will receive regulatory approvals. Oculus disclaims any obligation to update these

the company does not provide any assurances that such applications will receive regulatory approvals oculus disclaims any obligation to update these


It seems like it has stabilized now. And of course, we carefully talked about, if we could say that this was temporary. We did see it as temporary.

it seems like it has stabilized now and of course we carefully talked about if we could say that this was temporary we did see it as temporary


Anything specific you guys can attribute that to specifically here for Q4? One of it is simply the mathematical outcome

anything specific you guys can attribute that to specifically here for q4 one of it is simply the mathematical outcome


And most of it is pretty normal routine, a couple of projects on the drawing board that hopefully will give us some incremental revenue and

and most of it is pretty normal routine a couple of projects on the drawing board that hopefully will give us some incremental revenue and


companies start reducing discretionary expenses or projects related for the future because they hunker down to deal with the present. And

companies start reducing discretionary expenses or projects related to the future because they hunker down to deal with the present


Moving to Slide 12, let's take a look at our free cash flow calculation for the 9 months ended September 30, and I'll close with some balance sheet comments.

moving to slide 12 let's take a look at our free cash flow calculation for the 9 months ended september 30 and i'll close with some balance sheet comments


This demonstrates the highly cash generative nature of the group and the fact that we turn profit after tax into cash after tax.

this demonstrates the highly cash-generative nature of the group and the fact that we turn profit after tax into cash after tax


Let me move forward and spend a couple of minutes talking about capital markets and our balance sheet. We were quiet with regard to the general capital markets activities during the quarter.

let me move forward and spend a couple of minutes talking about capital markets and our balance sheet we were quiet with regard to the general capital markets activities during the quarter


as well as soft corporate profit growth or in some cases declines over last few years have created a macro environment that has not generated a robust corporate lodging demand.

as well as soft corporate profit growth or in some cases declines over the last few years have created a macro environment that has not generated robust corporate lodging demand


And with that, I will turn the call back to Ashton for a few comments regarding our investment portfolio as well as the investing environment before we open the call to questions.

and with that i'll turn the call back to ashton for a few comments regarding our investment portfolio as well as the investing environment before we open the call to questions


And I do want to say that while we are always working to increase our revenues, we are as much focused on maintaining and increasing profitability as well.

and i do want to say that while we are always working to increase our revenues we are as much focused on maintaining and increasing profitability as well


at very good contract pricing to folks such as ourselves that have significant capabilities


And as a result, MoChi is a very interesting design alternative in order to address a broader set of the market

and as a result mochi is a very interesting design alternative in order to address a broader set of the market


This was slightly offset by a decline in the value of our Agency RMBS and associated hedges as spreads on shorter duration hybrid ARMs

this was slightly offset by a decline in the value of our agency rmbs and associated hedges as spreads on shorter duration hybrid arms


With these initiatives, we will be able to strengthen our position in delivering above-market growth while enhancing the quality of this growth.

with these initiatives we will be able to strengthen our position in delivering above market growth while enhancing the quality of this growth


kind of raising all boats? And what is your view of market penetration at this point? And then secondly, have you begun to see any meaningful pickup in higher density

kind of raising all boats and what is your view of market penetration at this point and then secondly have you begun to see any meaningful pickup in higher density


that's appetizing in the more full service upscale segment that you want to be in? Or are those prices just too aspirational also on the part of the seller?

that's appetizing and the more full service upscale segment that you want to be in or are those prices just too aspirational also on the part of the seller


our overseas projects. So we hope that our capital expenditures on overseas projects are going to be lower.

our overseas projects so we hope that our capital expenditures on overseas projects are going to be lower


Our South Africa plants continue to generate cash at the project level, and we are actively working to clear the defaults and remove the restrictions on the cash distributions.

our south africa plants continue to generate cash at the project level and we are actively working to clear the defaults and remove the restrictions on the cash distribution


Our first priority has been to evolve from being a buying organization to a streamlined category management team, which is more in line with industry protocol.

our first priority has been to evolve from being a buying organization to a streamlined category management team which is more in line with industry protocol


Therefore, we have decided to remove all artificial sweeteners, flavors, colors and preservatives from any product that carries our brand.

therefore we have decided to remove all artificial sweeteners flavors colors and preservatives from any product that carries our brand


As Gregg mentioned, quoting and overall activity has been on the rise, which has created a much more positive environment for our customers and our energy businesses.

as greg mentioned quoting and overall activity has been on the rise which has created a much more positive environment for our customers and our energy businesses


We were very pleased with our ability to sustain our strong gross profit margin throughout 2016. Our FIFO gross profit margin

we were very pleased with our ability to sustain our strong gross profit margin throughout 2016 our fifo gross profit margin


in places such as Oklahoma, North Dakota and Louisiana, to name a few. Excluding Houston, we note that RevPAR for our hotels in these U.S. markets

in places such as oklahoma north dakota and louisiana to name a few excluding houston we note that revpar for our hotels in these u s markets


This makes the oil and gas industry an enormous consumer of steel. There are literally hundreds of steel mills around the world that manufacture OCTG pipe of all sizes, weights and grades

this makes the oil and gas industry an enormous consumer of steel there are literally hundreds of steel mills around the world that manufacture octg pipe of all sizes weights and grades


in particular the process optimization projects, which has seen us improve gold recoveries and achieve improvements in the availability of the autoclave circuit.

in particular the process optimization projects which have seen us improve gold recoveries and achieve improvements in the availability of the autoclave circuit


We're currently offering this test commercially and have just hired 2 sales representatives and a product manager to more aggressively market the test.

we're currently offering this test commercially and have just hired 2 sales representatives and a product manager to more aggressively market the test


you help us by comparing and contrasting what you think PlanGrid's particular strengths were versus the other competitors in that space?

help us by comparing and contrasting what you think plangrid's particular strengths were versus the other competitors in that space


And we believe that the ability to attract a broader and more diverse investor base should benefit all equity-holders and enable us to be valued accordingly.

and we believe that the ability to attract a broader and more diverse investor base should benefit all equity holders and enable us to be valued accordingly


On top of this, we are also expecting a substantial increase in our total dollar content

on top of this we are also expecting a substantial increase in our total dollar content


As Kevin mentioned, our real estate strategy calls for the infill of existing markets as we look to optimize the profitability and the efficiencies in our current footprint.

as kevin mentioned our real estate strategy calls for the infill of existing markets as we look to optimize the profitability and the efficiencies in our current footprint


Overall, the CHC International segment realized strong performance in the quarter as the team continued to actively integrate sales strategies with promotional programs

overall the cat international segment realized strong performance in the quarter as the team continued to actively integrate sales strategies with promotional programs


The ideal patient would be both one that's potentially in an institution, in a hospital environment as well as an outpatient

the ideal patient would be both one that's potentially in an institution in a hospital environment as well as outpatient


we're very aligned on the dosing for this, so it's really just trying to reconcile things that were done previously with a different method to things that have been

we're very aligned on the dosing for this so it's really just trying to reconcile things that were done previously with a different method to things that have been


internal growth model. Now looking back to what we've done over the first half of this year, this is exactly it. We have

internal growth model now looking back to what we've done over the first half of this year this is exactly it we have


reported on June 30 and accounted for as equity. And the net debt impact of change in parameter and others,

reported on june 30 and accounted for as equity and the net debt impact of change in perimeter and others


We recognize that this will be an area of key debate as it represents a significant opportunity in driving operational efficiency and returns.

we recognize that this will be an area of key debate as it represents a significant opportunity in driving operational efficiency and returns


some relative flatness in some other brands and several very specific issues related to a few of our shows that are constraining this year's overall organic growth.


This strongly positions Amicus to become the consolidator of some of the greatest gene therapy technologies, products and minds in the field,

this strongly positions amicus to become the consolidator of some of the greatest gene therapy technologies products and minds in the field


Therefore, for the first quarter, we anticipate modest improvements in most businesses, offset by challenges that will persist through mid-Q1 in our subsea business unit,

therefore for the first quarter we anticipate modest improvements in most businesses offset by challenges that will persist through mid-q1 in our subsea business unit


We are working with an outside agency to improve our marketing and outreach. I expect these actions to start to show results by

we are working with an outside agency to improve our marketing and outreach i expect these actions to start to show results by


So is it fair to say that the earnings contribution is also 75%? Because it sounds from Barry's comments like it might be a little more profitable.

so is it fair to say that the earnings contribution is also 75% because it sounds from barry's comments like it might be a little more profitable


is a huge opportunity for us to both innovate as well as drive throughput even further on our consumer-facing line as well as our second make-line.

is a huge opportunity for us to both innovate as well as drive throughput even further on our consumer-facing line as well as our second make line


What we need to do is we need to make certain that the quality of the top line is found on the bottom line, rather than having a larger top line. So

what we need to do is we need to make certain that the quality of the top line is found on the bottom line rather than having a larger top line so


Yes. I wouldn't want to comment on any particular deal. But as I think about our strategy, it's really the same strategy. I mean, if you look back over,

yes i wouldn't want to comment on any particular deal but as i think about our strategy it's really the same strategy i mean if you look back over


I think it would be relevant to bring to your attention that the midpoint of our guidance range has not changed since February when we gave guidance

i think it would be relevant to bring to your attention that the midpoint of our guidance range has not changed since february when we gave guidance


But we can also work with customers, say in the Permian that may be sourcing regional sand while preferring our wellsite solution.

but we can also work with customers say in the permian that may be sourcing regional sand while preferring our well site solution


There are a few areas in the world that can match the low-cost environment of the KRI and provide such a material return on investments.

there are few areas in the world that can match the low-cost environment of the kerala and provide such a material return on investment


And obviously, we're still improving our network, particularly in the northeast, but that's nothing like building out as we did in 2016, vastly cheaper.

and obviously we're still improving our network particularly in the northeast but that's nothing like building out as we did in 2016 vastly cheaper


We're focused on transparency with the investment community and so as these things come in, we want to make sure that we're keeping you updated and then just given the

we're focused on transparency with the investor community and so as these things come in we want to make sure that we're keeping you updated and then just given the


and commission income, coupled with the specific loan-loss provisions taken during the year. With that said, I'll now pass it back to Peter for some closing remarks.

and commission income coupled with the specific loan loss provisions taken during the year that said i'll now pass it back to peter for some closing remarks


We see excellent opportunities to seed new alternative funds along with new clients, which can be run from our existing platform.

we see excellent opportunities to seed new alternative funds along with new clients which can be run from our existing platform


advantage of whatever kind of legislation occurs. But I think it's too early for me to comment on how that would change our capital allocation right now.

to take advantage of whatever kind of legislation occurs but i think it's too early for me to comment on how that would change our capital allocation right now


that volume tends to go to you. Have you looked at the opportunity that might present for you and given any sizing of that? And then is there any update

that volume tends to go to you have you looked at the opportunity that might present for you and given any sizing of that and then is there any update


appetite is very hard to monitor in cats. We showed that in a pilot study, so that's why looking at weight gain, I think, is the appropriate place to go.

appetite is very hard to monitor in cats we showed that in a pilot study so that's why looking at weight gain i think is the appropriate place to go


We have heard from companies talking about weather impact and all. I was wondering if there's any weather impact in your first quarter guidance or is it just seasonal

we have heard from companies talking about weather impact and all i was wondering if there's any weather impact in your fourth quarter guidance or is it just seasonal


in the process of taking in all of these variables today to think about where we'd go from here, and we've got a lot of options. And we don't take the

we're in the process of taking in all of these variables today to think about where we go from here and we've got a lot of options and we don't take the


Our diversified revenue base in AMS continued to provide strong organic growth. Filtration and transportation were the key drivers,

our diversified revenue base in ams continues to provide strong organic growth filtration and transportation were the key drivers


with our medical business also delivering solid full year results. Infrastructure, construction and industrial sales were generally flat for the year.

with our medical business also delivering solid full year results infrastructure construction and industrial sales were generally flat for the year


We generated nearly 16 million leads to our comparison partners, as consumers shopped around for the best deals on everything from the utility bills to their mortgage providers.

we generated nearly 16 million leads to our comparison partners as consumers shopped around for the best deals on everything from the utility bills to their mortgage providers


And as usual, our team did a great job. So on behalf of all Peyto shareholders, I just like to say thank you for the big team effort out there in the field and here in the office.

and as usual our team did a great job so on behalf of all petao shareholders i'd just like to say thank you for the big team effort out there in the field and here in the office


That's our expectation sitting here today. And on the commodities side, Mike, what I would say is I would expect to see those start to moderate a little bit, notwithstanding

that's our expectation sitting here today and on the commodity side mike what i would say is i would expect to see those start to moderate a little bit notwithstanding


We recently engaged consultants to help with this process and are in the early stages of identifying and quantifying cost-saving opportunities within the business.

we recently engaged consultants to help with this process and are in the early stages of identifying and quantifying cost-saving opportunities within the business


Looking at the full year, we'll continue to take advantage of healthy demand and grow our volume business much better than expected, which optimizes our operating profit.

looking at the full year we'll continue to take advantage of healthy demand and grow our volume business much better than expected which optimizes our operating profit


and financial architecture laid out for you at the Securities Analyst Meeting in 2017. I'm looking forward to closing out the fiscal year with another strong quarter.

and financial architecture laid out for you at the security analyst meeting in 2017 i'm looking forward to closing out the fiscal year with another strong quarter


some thoughts on what might happen in the tariff landscape and how you might be preparing for various eventualities and how we might


We continue to look at ways we can optimize our voice pricing while taking advantage of the very attractive demographics that we see in these markets.

we continue to look at ways where we can optimize our voice pricing while taking advantage of the very attractive demographics that we see in these markets


I view it as a better risk profile. We really do have a more stable footing for both the client and MAXIMUS with these revisions.

i view it as a better risk profile we really do have a more stable footing for both the client and maximus with these revisions


along with the Chicken Parmesan Sandwich and our Crispy Buffalo Chicken Melt. These also had a favorable impact on increasing our average check.

along with the chicken parmesan sandwich and our crispy buffalo chicken melt these also had a favorable impact on increasing our average check


And what is also important is this is not supposed to jeopardize the implementation of our strategy. It is to -- this year

and what is also important is this is not supposed to jeopardize the implementation of our strategy it is -- this year is


There is no more questions coming in. We are going to conclude today's conference call. Thank you for your participation. Thank you.

there is no more questions coming in we are going to conclude today's conference call thank you for your participation thank you


A few weeks later, Hurricane Irma displaced many people and left large portions of Florida and Georgia with extensive property damage and without power.

a few weeks later hurricane irma displaced many people and left large portions of florida and georgia with extensive property damage and without power


and the addition of 6 million digitally registered customers who are not yet rewards members but who have established a digital connection with Starbucks.

and the addition of 6 million digitally registered customers who are not yet rewards members but who have established a digital connection with starbucks


The biggest change is in how we scale up distribution and physical availability of our mass luxury brands by using our broader sales force.

the biggest change is in how we scale up distribution and physical availability of our mass luxury brands by using our broader sales force


In fact, this was the best annual adjusted credit segment operating income Conn's has produced in 5 years.

in fact this was the best annual adjusted credit segment operating income conn has produced in 5 years


adjustments annually in our contracts around wages is fairly common in the industry, and it's certainly reflected on a portion of our agreement.

adjustments annually in our contracts around wages is fairly common in the industry and is certainly reflected in a portion of our agreements


A human capital business must care about people, how to attract the best people, how to retain them and how best to match them to great client work.

a human capital business must care about people how to attract the best people how to retain them and how best to match them to great client work


This approach will strengthen our ability to deliver on the circle of quality philosophy. Great talent is attracted by great clients and great projects.

this approach will strengthen our ability to deliver on the circle of quality philosophy great talent is attracted by great clients and great projects


you don't really need to assess whether you've had enough reduction to mitigate the disease, you just don't have the disease anymore. So

you don't really need to assess whether you've had enough reduction to mitigate the disease you just don't have the disease anymore so


we do not only trust Chinese people. We trust value and nurture

we do not only trust chinese people we trust value and nurture


So I can't pinpoint to any particular area that is driving the growth. I think it's quite spread out, which

so i can't pinpoint to any particular area that is driving the growth i think it's quite spread out which


I would not take into consideration this as an indication for the future. As we said in the past that we expect the floaters margin to be

i would not take into consideration this as an indication for the future as we said in the past that we expect the floaters margin to be


I never thought I'd run into pickles, peanuts, and I looked at this pickle harvesting machine and I just kind of smiled.

i never thought i'd run into pickles peanuts and i looked at this pickle harvesting machine and i just kind of smiled


This focus drove an overall increase in gross profit. Growing revenue primarily through sales of subscription and perpetual licenses will continue to be our focus.

this focus drove an overall increase in gross profit growing revenue primarily through sales of subscription and perpetual licenses will continue to be our focus


in the second quarter, based on our demand profile. And we feel pretty optimistic that, that trend will continue on an upward tick through the balance of the year.

in the second quarter based on our demand profile and we feel pretty optimistic that that trend will continue on an upward tick through the balance of the year


As an investor in JDE, we remain very confident in the long-term potential of the business and believe it will create significant value for its shareholders.

as an investor in jde we remain very confident in the long-term potential of the business and believe it will create significant value for its shareholders


but we're also making the investments and the data capabilities in our big data engines inside our company today. So we feel really good about that opportunity.

but we're also making investments in the data capabilities and our big data engines inside our company today so we feel really good about that opportunity


against the historical margin structure. And just trying to think about the prospects for improving that going forward or how we should think about the puts and takes there.

against the historical margin structure and just trying to think about the prospects for improving that going forward or how we should think about the puts and takes there


Turning briefly to the highlights of Era's Q1 results, I am pleased to report that despite the challenging conditions in the oil and gas industry,

turning briefly to the highlights of aera's q1 results i am pleased to report that despite the challenging conditions in the oil and gas industry


was a coauthor of a paper that won the best theoretical paper award for 2018 from the International Journal of Industrial Organizations.

was a co-author of a paper that won the best theoretical paper award for 2018 from the international journal of industrial organization


The current quarter net investment spread results included returns on noncoupon investments and prepayment fees slightly above our average expectations.

the current quarter net investment spread results included returns on non-coupon investments and prepayment fees slightly above our average expectations


Finally, I would like to mention that I will be at the Oppenheimer Industrial Conference in New York on May 11, The Stephens Roadshow on May 12 in Boston

finally i would like to mention that i will be at the oppenheimer industrial conference in new york on may 11 the stevens road show on may 12 in boston


and it takes time to determine what you need to do to improve the turkey performance. There's a bit of a learning curve here, and I think that we're

and it takes time to determine what you need to do to improve the turkey performance there's a bit of a learning curve here and i think that we're


These programs have been focused on maximizing viewability and duration of ad play for advertisers and improving circulation retention

these programs have been focused on maximizing viewability and duration of ad play for advertisers and improving circulation retention


positively impacting the results during the first half of the year, but insufficient to compensate for the impact of the higher weather-related claims.

positively impacting the results during the first half of the year but insufficient to compensate for the impact of the higher weather-related claims


we're conservative in setting those prices. We don't have a lot of history across all of the various tests and across all of the various payers. And so

we're conservative in setting those prices we don't have a lot of history across all of the various tests and across all of the various payers and so


The network effects of our scale continue to accelerate. Our breadth of services and products go well beyond checkout,

the network effects of our scale continue to accelerate our breadth of services and products go well beyond checkout


Yes, there's a little bit there. It's actually more up in China actually where we saw some of that. And if you have a look at the provision, you'll actually see they've gone up as well. So we took

yes there's a little bit there it's actually more up in china actually where we saw some of that and if you have a look at the provision you'll actually see they've gone up as well so we took


and those that do buy spend more money on collectibles than they do on video game, an encouraging dynamic given the growth projections we noted earlier.

and those that do by spend more money on collectibles than they do on video games an encouraging dynamic given the growth projections we noted earlier


And while there are clear principles that will be implemented likely the same here in Colombia as they are in other places, it'll depend upon

and while there are clear principles that will be implemented likely the same here in colombia as they are in other places it will depend upon


I'm starting on Slide 3. We're very pleased that encorafenib and binimetinib New Drug Applications and Marketing Authorization Applications

i'm starting on slide 3 we're very pleased that ankorafatinib and binimetinib new drug applications and marketing authorization applications


And while I still see a lot of opportunity for improvement, we are pleased with the direction we were headed in relation to sales.

and while i still see a lot of opportunity for improvement we are pleased with the direction we were headed in relation to sales


I believe in the second half, things will improve for sure over the first half.

i believe in the second half things will improve for sure over the first half


more detailed question just on if you could explain the impact of -- revenue impact of moving to split contracts on the mobile side in Belgium and

more detailed question just on if you could explain the impact of -- revenue impact of moving to split contracts on the mobile side in belgium and


And finally, our RV revenue grew by nearly 6%. We have been focused on converting existing renters to owners and are pleased with the trend we are seeing.

and finally our rv revenue grew by nearly 6% we have been focused on converting existing renters to owners and are pleased with the trend we are seeing


maybe not exactly adjacent to the pipeline that are actually not served with natural gas. So I think there's some longer-term benefits there, in addition to more security and

maybe not exactly adjacent to the pipeline that are actually not served with natural gas so i think there's some longer-term benefits there in addition to more security and


In terms of why we are more positive, I think we have seen -- we are seeing a lowering of expectations

in terms of why we're more positive i think we've seen -- we are seeing a lowering of expectations


While we continue to deliver cars out of that facility that meet our customer's expectations, the cost of doing so is far too high.

while we continue to deliver cars out of that facility that meet our customers' expectations the cost of doing so is far too high


And we've developed a new business model for hospitals. ZIOPHARM will provide patients and caregivers with a solution that addresses the cost and complexity

and we developed a new business model for hospitals zyopharm will provide patients and caregivers with a solution that addresses the cost and complexity


to avoid the threat of ad blockers and provide their digital viewers with a better live-viewing experiences as ads are stitched into the live streams.

to avoid the threat of ad blockers and provide their digital viewers with a better live viewing experiences as ads are stitched into the live streams


and so we're seeing a little better on the aftermarket. But it's definitely -- primarily what we're getting is the new aircraft with higher content coming through.

and so we're seeing a little better on the aftermarket but it's definitely -- primarily what we're getting is the new aircraft with higher content coming through


In Chile, we have the recent openings of the office towers in our mall in Concepcion with a leasing area around 11,000 square meters

in chile we have the recent openings of the office towers in our mall in concepcion with a leasing area around 11 000 square meters


current quarter net income was favorably impacted by a decrease in contingent consideration expense and stock compensation expense related to acquisitions.


but if you look like guys like San'an, their income statement is very good and it looks like they don't have many access to capital issues. They have a pretty healthy utilization rate.

but if you look like guys like sanam the income statement is very good and looks like they don't have many access to capital issues they have a pretty healthy utilization rate


We also ask our operating companies to do that as well. And I think the Tektronix team really came back with this understanding that, hey, by combining with the Telestream business,

we also asked our operating companies to do that as well and i think the tektronix team really came back with this understanding that hey by combining with the telescreen business


Our technical team has been modifying our drilling and completion procedures based on our results and the results of our offset operators.

our technical team has been modifying our drilling and completion procedures based on our results and the results of our offset operators


In addition, the highly competitive and weak short-term rental market was particularly challenging and had a significant negative impact on Canada's EBIT in the fourth quarter.

in addition the highly competitive and weak short-term rental market was particularly challenging and had a significant negative impact on canada's ebit in the fourth quarter


And we're in the second or third inning of the introduction of these products. So we see a lot more growth potential

and we're in the second or third inning of the introduction of these products so we see a lot more growth potential


compared with the previous year. Another negative factor was an increase in personnel cost and some development orders this year.

compared with the previous year another negative factor was an increase in personnel cost and some development orders this year


Additionally, we also have a large inventory of other area 2 locations from which to choose, if we were to change the drilling schedule to add in more in Area 2 drilling.

additionally we also have a large inventory of other area 2 locations from which to choose if we were to change the drilling schedule to add in more area 2 drilling


feel very, very good about the amount of work that we have in the pipeline, the number of relationships that we have with opportunities for expansion.

feel very very good about the amount of work that we have in the pipeline the number of relationships that we have with opportunities for expansion


I mean, I guess, we had open minds and it proved to us to be a lot more valuable to us than we suspected going in, but we

i mean i guess we had open minds and if it proved to us to be a lot more valuable to us than we suspected going in but we


we will not look at doing any type of share repurchase, but eventually, that will most likely be what we do first. But obviously,

we will not look at doing any type of share repurchase but eventually that will most likely be what we do first but obviously


and the reason we can do that is because we have a well-developed infrastructure. And secondly, if an additional flow line is required to

and the reason we can do that is because we have a well-developed infrastructure and secondly if an additional flow line is required to


Investment income did decline on a sequential basis, related primarily to some additional bond amortization we had to take on a few of our European portfolios,

investment income did decline on a sequential basis related primarily to some additional bond amortization we had to take on a few of our european portfolios


Yes. Brooks, Gary is spot on with that. It probably isn't a surprise, but I would imagine probably not too far of a stretch for you to think that

no and brooks gary is spot on with that it probably isn't a surprise but i would imagine probably not too far of a stretch for you to think that


a more evenly distributed and durable drug effect and a lower incidence of downstream drug particulates as compared to earlier generations of drug-coated balloons.


We made this filing in a very similar manner to what other companies in the state have done, showing a very similar benefit to cost ratio.

we made this filing in a very similar manner to what other companies in the state have done showing a very similar benefit to cost ratio


Following my remarks, John will be sharing some data we presented at ASCO, the American Society for Clinical Oncology meeting.

following my remarks john will be sharing some data we presented at asco the american society for clinical oncology meeting


but we need a bridge solution to keep the units that are important to our customers in place so that they're available once we do have a carbon signal in the market.


Our other markets combined saw shipment growth of over 6%. This is much more in line with expectation and trend.

our other markets combined saw shipment growth of over 6% this is much more in line with expectation and trend


but relative to other titles and other occasions that make sense for folks, for example, a big Star Wars theme around May 4. So we're seeing a growth

but relative to other titles and other occasions that make sense for folks for example a big star wars theme around may the 4th so we're seeing a growth


As you recall in our last earnings call, we told you that the first quarter 2017 would look a lot like fourth quarter 2016 and that's right about where we landed.

as you'll recall on our last earnings call we told you that the first quarter 2017 would look a lot like fourth quarter 2016 and that's right about where we landed


We've seen one of the competitors effectively raise prices. Is it something that you are looking to do also to improve your ARPU? Or

we've seen one of the competitors effectively raise prices is it something that you are looking to do also to improve your apple or


I fully expect us to return to our more typical organic growth levels after a couple of quarters, and our team is intensely focused on this.

i fully expect us to return to our more typical organic growth levels after a couple of quarters and our team is intensely focused on this


Turning to operations. I'd like to go over the second quarter results and some of the changes we have made to our current 2-year plan -- operational plan.

turning to operations i'd like to go over the second quarter results and some of the changes we have made to our current 2-year plan -- operational plan


The strategic realignment that we did of our sales and service organization within Environmental Services at the start of this year is really working well.

the strategic realignment that we did of our sales and service organization within environmental services at the start of this year is really working well


looking at that, and we're working to provide additional disclosures. But we need to determine what information would be most useful

looking at that and we're working to provide additional disclosures but we need to determine what information would be most useful


an ad medium that creates demand for cars and pampers and vacations and insurance products and political votes.

an ad medium that creates demand for cars and diapers and vacations and insurance products and political votes


a lot of our businesses, if they're selling in a currency, they're also going to have a lot of their costs in the currency. Now there are exceptions where we are selling

a lot of our businesses if they're selling in a currency they're also going to have a lot of other costs in the currency now there are exceptions where we are selling


Under our fourth priority, increasing operating margins, we continue to optimize our entire organization to make us more productive to improve expense control.

under our fourth priority increasing operating margins we continue to optimize our entire organization to make us more productive to improve expense control


very different that would allow us to have a higher free cash flow and probably closer to what George is saying.

very different that would allow us to have a higher free cash flow and probably closer to what george is saying


Given the rapidly expanding physician customer base and positive experience with MACI, as evidenced by accelerating volume growth,

given the rapidly expanding physician customer base and positive experience with maci as evidenced by accelerating volume growth


On Page 7, the emissions market has become an increasingly complex with an increased industry focus on emissions controls and monitoring.

on page 7 the emissions market has become increasingly complex with an increased industry focus on emissions controls and monitoring


meeting with KOLs and continuing to educate there. That is going to be the theme that you've heard from me that will just continue on and on.

meeting with kols and continuing to educate there that is going to be the theme that you've heard from me that will just continue on and on


We have said in the past that we would only consider repurchasing any of those Twin Reefs preferred shares at a discount, and we were able to do that

we have said in the past that we would only consider repurchasing any of those twin reit preferred shares at a discount and we were able to do that


And not to give -- when we talk about scale, scale doesn't happen on its own. And the most important driver to help with scale is

and not to give -- when we talk about scale scale doesn't happen on its own and the most important driver to help with scale is


That's why we need to have a combination of a price combination that in the short term you manage to preserve

that's why we need to have a combination of -- a price combination that in the short term you manage to preserve


Under Dave, the company changed dramatically. We broadened our scale meaningfully. We diversified the geography of our platform significantly.

under dave the company changed dramatically we broadened our scale meaningfully we diversified the geography of our platform significantly


waiting to see if there was an increased competition amongst the Internet banks. But what we actually saw was that several banks

waiting to see if there was increased competition amongst the internet banks but what we actually saw was that several banks


So Allison, it's Steve, I want to just give a little bit of -- I want to put this in context here and then I'd like David and Carl to weigh in on it. So

so allison it's steve i want to just give a little bit of -- i want to put this in context here and then i'd like david and carl to weigh in on it so


So you had said that the sales cycle is much longer on something like this. Based on your response to my question, it looks like,

so you had said that the sales cycle is much longer on something like this based on your response to my question it looks like


of the price and also because of the available cash we've had from our really strong working capital management and the inventory reductions we've had during the year.


In addition, we completed integration of the first re-engined Antares, which we will roll out for testing next week at the launch pad at the Wallops Flight Facility.

in addition we completed integration of the first re-engined antares which we will roll out for testing next week at the launch pad at the wallops flight facility


frankly much stronger than we were modeling. And I wanted to dig into this a little bit more. You talked about some of the things that are

frankly much stronger than we were modeling and i wanted to dig into this a little bit more you talked about some of the things that are


and the incremental investments in product and sales capacity, all generally in line with the Q1 expectations we set for you last quarter.

and the incremental investments in product and sales capacity all generally in line with the q1 expectations we set for you last quarter


And so we strategically made the decision that it made sense for us to ramp up some of our finished goods inventory to make sure that we were able to fulfill demand

and so we strategically made the decision that it made sense for us to ramp up some of our finished goods inventory to make sure that we were able to fulfill demand


a new multiyear contract with a leading global fast food company and a new multiyear contract with a New York-based financial services firm.

a new multiyear contract with a leading global fast food company and a new multiyear contract with a new york-based financial services firm


The first one is concerning the refinancing of the hybrid bond, if we could give more information on that?

the first one is concerning the refinancing of the hybrid bond if we could give more information on that


quality metrics are nearing the point that a detailed discussion of asset quality is no longer necessary. We will, however, continue to provide more than sufficient data for your review.

quality metrics are nearing the point that a detailed discussion of asset quality is no longer necessary we will however continue to provide more than sufficient data for your review


Negotiations for the sale of the Melbourne Domestic Terminal are well advanced, and we are expecting to receive the proceeds in the second half.

negotiations for the sale of the melbourne domestic terminal are well advanced and we are expecting to receive the proceeds in the second half


know the importance of maintaining a rigorous management approach and that the discipline which we


The results in the first 2 quarters are in line with our expectations. The inflow ARPU is somewhat lower than last year because we unbundled content.

the results in the first 2 quarters are in line with our expectations the inflow arpu is somewhat lower than last year because we unbundled content


in assuming that in track channels, it's likely to be about flat. So we're certainly watching that carefully as well as the competitive landscape. The other thing we're going to continue to watch is foreign currency.

and assuming that in track channels it's likely to be about flat so we're certainly watching that carefully as well as the competitive landscape the other thing we're going to continue to watch is foreign currency


Good morning, ladies and gentlemen. I admit, to sit here as CEO of the company is a very different experience

good morning ladies and gentlemen i admit to sit here as ceo of the company is a very different experience


that we'll likely see the same type of phenomenon we saw in other studies, where the mean on study attack rate will be about twice the minimum criterion.

that we'll likely see the same type of phenomenon we saw in other studies where the mean on-study attack rate will be about twice the minimum criterion


generally, our experience has been that you get approximately twice the main on study as the minimum attack rate.

generally our experience has been that you get approximately twice the mean on study as the minimum attack rate


We continue to operate below the median of comparable U.S. banks due to the relatively lower credit-risk density of our balance sheet.

we continue to operate below the median of comparable u s banks due to the relatively lower credit risk density of our balance sheet


Finally, I would like to add a few words about transforming our business structure, as mentioned in the previous management direction progress review.

finally i would like to add a few words about transforming our business structure as mentioned in the previous management direction progress review


You've pivoted your adviser business. I think you have an underappreciated balance sheet and now there is a potential earnings impact from the changes in the corporate tax rates we just mentioned.

you've pivoted your adviser business i think you have an underappreciated balance sheet and now there's a potential earnings impact from the change in the corporate tax rates we just mentioned


a wonderful element of a hospital challenge strategy that the company has changed. And we believe we can find a suitable home for it,

a wonderful element of a hospital channel strategy that the company has changed and we believe we can find a suitable home for it


Before we get started, please note that certain statements during today's presentation that are not statements of historical fact, including statements concerning such items

before we get started please note that certain statements during today's presentation that are not statements of historical fact including statements concerning such items


It is what has driven us to not just acquire Starwood but to try and compete with 30 different brands and have the kind of

it is what has driven us to not just acquire starwood but to try and compete with 30 different brands and have the kind of


we feel very strongly that an investment conversation that includes deposits has got to be a key part of our primary banking strategy.


Steve will take you through the details of our financial results in a moment, so let me shift my discussion to update you on our progress against our strategic priorities.

steve will take you through the details of our financial results in a moment so let me shift my discussion to update you on our progress against our strategic priorities


And our eVolve drilling automation products and services are delivering significant improvements in drilling efficiencies and gaining more traction with customers around the world.

and our evolve drilling automation products and services are delivering significant improvements in drilling efficiencies and gaining more traction with customers around the world


as any such prepayments of debt would previously have counted against us in the fixed charge coverage ratio and ultimately would have been limited by this covenant.


in many of our core markets, such as Eastern Canada, Arizona, Georgia, Colorado and New Mexico, while dramatically increasing our presence

in many of our core markets such as eastern canada arizona georgia colorado and new mexico while dramatically increasing our presence


And with the benefit of an improved balance sheet that can withstand gold price volatility, we have greater flexibility to invest in sustaining and growing the business into the future.

and with the benefit of an improved balance sheet that can withstand gold price volatility we have greater flexibility to invest in sustaining and growing the business into the future


Former Clarient and NeoGenomics senior and middle management people and teams have been effectively reorganized to manage our combined operations.

former clariot and neogenomics senior and middle management people and teams have been effectively reorganized to manage our combined operations


capability in flow cytometry. We're actually adding some capability through work that we've done with this support vector machine

capability in flow cytometry we're actually adding some capability through work that we've done with the support vector machine


many of their knees were done and navigated, probably the highest percentage in the world. So they were -- for them, it's an easy adoption to move from navigated knees to robotic.

many of their knees were done and navigated probably the highest percentage in the world so they were -- for them it's an easy adoption to move from navigated knees to robotic


most of the businesses that are of a certain size and quality today probably launched sometime in the late '80s or early '90s. And just

most of the businesses that are of a certain size and quality today probably launched sometime in the late '80s or early '90s and just the


The slight decrease in our quarter-over-quarter margins was attributable to the increased waiting of our international business and our domestic customer mix.

the slight decrease in our quarter-over-quarter margins was attributable to the increased weighting of our international business and our domestic customer mix


constantly operational efficiency in terms of quality of service and also efficiency and financial

constantly operational efficiency in terms of quality of service but also efficiency and financial


I'm also extremely pleased to report that we had our best quarter ever for enterprise bookings in Q2. Our pipeline reached another all-time high as well.

i'm also extremely pleased to report that we had our best quarter ever for enterprise bookings in q2 our pipeline reached another all-time high as well


It probably doesn't make us, it doesn't make sense for us to own the long term, so I would see us in 2 or 3 years not this year

it probably doesn't make us -- it doesn't make sense for us to own them long term so i would see us in 2 or 3 years not this year


including those plans, beliefs and expectations of our officers and directors with respect to, among other things, gaining access to global markets,

including those plans beliefs and expectations of our officers and directors with respect to among other things gaining access to global markets


call it, food safety applications that are in development and just about to be released. What that will do is to expand our market opportunity,

call it food safety applications that are in development and just about to be released what that will do is to expand our market opportunity


expect the margin to be more stable over the course of 2016? Or are you going to -- how

expect the margin to be more stable over the course of 2016 or are you going to -- how


With that overview, I'll turn the call over to Christian to review the numbers before returning for a summary and your questions. Thank you, Carl, and good morning, everyone.

with that overview i'll turn the call over to christian to review the numbers before returning for a summary and your questions thank you kyle and good morning everyone


I would also like to draw your attention to the financial information included in this management discussion and analysis presentation,

i would also like to draw your attention to the financial information included in this management discussion and analysis presentation


I'm sort of wondering if this has to do with the environment or if this has to do with certain things that you're doing to ALW that

i'm sort of wondering if this has to do with the environment or if this has to do with certain things that you're doing to alw that


Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the company's operating results

non-gaap information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of the company's operating results


where we're just -- we've laid down a few frac crews, a few rigs and it doesn't take much slack in that market for it to really impact pricing. So I think it's just a

where we're just -- we've laid down a few frac crews a few rigs and it doesn't take much slack in that market for it to really impact pricing so i think it's just a


The plans Scott put in place last fall have created a culture of accountability in the field. Our design to provide a great guest experience and are built on a strong foundation of food safety.

the plans scott put in place last fall have created a culture of accountability in the field are designed to provide a great guest experience and are built on a strong foundation of food safety


and the joint working group is now validating the results. And yes, you may have heard about funny results,

and the joint working group is now validating the results and yes you may have heard about funny results


The trend toward larger deployments is continuing, which is consistent with the discussions we are having with numerous hyperscale and enterprise customers about potential solutions across

the trend toward larger deployments is continuing which is consistent with the discussions we are having with numerous hyperscale and enterprise customers about potential solutions across


We cannot move forward without making the investments to differentiate ourselves through our unique offerings, which will further reduce the complexity of shipping for our clients.

we cannot move forward without making investments to differentiate ourselves through our unique offerings which will further reduce the complexity of shipping for our clients


doing a good job with their existing legacy business but they're also doing a good job picking up new business, and importantly our Financial Services business

doing a good job with their existing legacy business but they're also doing a good job picking up new business and importantly our financial services business


So I don't know -- I would give it a little while longer for the relationship to settle in and see where the profitability actually lands before I

so i don't know that i would give it a little while longer for the relationship to settle in and see where the profitability actually lands before i


revision of the sales assumptions in the second half of '17, any reason for that changing, I know, recently you talked about few tens of millions in the back half, and

revision of the sales assumptions in the second half of '17 any reasons for that changing i know recently you talked about few tens of millions in the back half and


The other certain items of any significance, the fair value amortization and the mark-to-market, we see those in most quarters and we've discussed them in the past.

the other certain items of any significance the fair value amortization and the mark-to-market we see those in most quarters and we've discussed them in the past


until we see additional demand. The additional production that we got from the first 6 wells or so was enough to take care of what we think we need. So

until we see additional demand the additional production that we got from the first 6 wells or so was enough to take care of what we think we need so


The company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise other than as required by law.

the company assumes no obligation to update forward-looking statements whether as a result of new information future events or otherwise other than as required by law


Thanks. You've mentioned that both of these are centered around the GalXC platform and the potential utility of that in a broader set of targets,

you've mentioned that both of these are centered around the galaxy platform and the potential utility of that in a broader set of targets


as the pattern of deployments follow a step function with very large steps even if the underlying end-user demand grows more evenly.


As a result of this significant reduction in the proportion of rigs on standby, total average rig operating cost per day during the fourth quarter increased

as a result of this significant reduction in the proportion of rigs on standby total average rig operating cost per day during the fourth quarter increased


which not only includes structured finance and investor relations but also all financial and accounting responsibilities typically performed


and that just goes through cycles that take longer to reactivate than maybe the short-term product where there's more lead providers, which you can turn back on a little more quickly.

goes through cycles that take longer to reactivate than maybe the short-term product where there's more lead providers which you can turn back on a little more quickly


We continue to provide valuable support in this innovative product category and consider ourselves well positioned when sales growth accelerates again.

we continue to provide valuable support in this innovative product category and consider ourselves well positioned when sales growth accelerates again


you've got lots of subcategories. So for example, Andy touched on the change to the advertising rules within broadband. That was a negative

you've got lots of subcategories so for example andy touched on the change to the advertising rules within broadband that was a negative


it's really -- it's going to be building a foundation time for us. There's going to be large investments made or we have been making, and we're going to follow through on things like training surgeons and

it's really it's going to be building a foundation time for us there's going to be large investments made or we have been baking and we're going to follow through on things like training surgeons and


And then the second question is regarding the VA. I understand from some -- from talks with some of your competitors that there is sometimes

and then the second question is regarding the va i understand from some -- from talks with some of your competitors that there are sometimes


And obviously, at the growth rate, volume will play a little bit of a role. I don't like that to be the excuse for not driving productivity. But I think if we do those things,

and obviously at the growth rate volume will play a little bit of a role i don't like that to be the excuse for not driving productivity but i think if we do those things


as expectations for continued low interest rates support strong production volumes and healthy margins throughout the industry.


if that's new business driving the increase or reprocurement. I know there's some comments there that over 50% is new. I'm wondering how that also compares to

if that's new business driving the increase or reprocurement i know there's some comments there that over 50% is new i'm wondering how that also compares to


Okay. And then to understand the divestitures, I know that they're small, but was there a certain growth profile that just didn't make your

okay and then to understand the divestitures i know that they're small but was there a certain growth profile that just didn't make your


We've got a great balance sheet, strong free cash flows and a good acquisition pipeline as we think about the balance of 2016 and certainly into the future.

we've got a great balance sheet strong free cash flows and a good acquisition pipeline as we think about the balance of 2016 and certainly into the future


I think that the idea that you need to build a one-on-one relationship with your customer, something that we've been saying now for almost 20 years is probably more true than ever

i think that the idea that you need to build a one-on-one relationship with your customer something that we've been saying now for almost 20 years is probably more true than ever


We do this by benchmarking the optimum cost of all elements of a product to its sales value and to competitive benchmarks.

we do this by benchmarking the optimum cost of all elements of a product to its sales value and to competitive benchmarks


Crown Royal lapped the launch of the highly successful Regal Apple innovation in the second half. And both it and Crown Royal Deluxe grew.

crown royal lapped the launch of the highly successful regal apple innovation in the second half and both it and crown royal deluxe grew


which has been a meaningful contributor to pre-provision net revenue growth over the past several years, to contribute significantly to growth in net interest income.

which has been a meaningful contributor to preprovision net revenue growth over the past several years to contribute significantly to growth in net interest income


We plan for the integration of Wellington's and Today's at speed and are convinced that it will make a positive contribution in the short term.

we plan for the integration of wellington's and todays at speed and are convinced that it will make a positive contribution in the short term


and much more diversity and breadth of content than what those 2 to 3 subscription services that they are generally willing to pay for have to offer.


The net result of adding these lower rate loans to our branch, small and convenience check portfolios is that the yield has declined as the mix shifted.

the net result of adding these lower rate loans to our branch small and convenience check portfolios is that the yield has declined as the mix shifted


So it's a good question because we've obviously not been that great in trying to update the market on the fact that we are progressing some

so it's a good question because we've obviously not been that great in trying to update the market on the fact that we are progressing


tire in any place in the world. But when you get down to it in the range, there is no one in the world

tire any place in the world the -- but when you get down to it in the range there is no one in the world


As a result, we've made a number of changes to our operational team over the past couple of years to battle the downturn and build our team around the One Titan model.

as a result we've made a number of changes to our operational team over the past couple of years to battle the downturn and build our team around the one titan model


are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results.


our backlog and production forecasts indicate we will see a sequential improvement each quarter from the base set in the first quarter.


While we knew these factors were a risk for the year, the headwinds firmed up earlier than anticipated and begin impacting us within the last 90 days.

while we knew these factors were a risk for the year the headwinds firmed up earlier than anticipated and begin impacting us within the last 90 days


there's typically a lot of the larger contracts come up for bids in the spring and summer


ahead of implementing in terms of employee engagement and change readiness assessment. So there's quite a heavy quality assurance program sitting over

ahead of implementing in terms of employee engagement and change readiness assessment so there's quite a heavy quality assurance program sitting over


In conclusion, we believe the challenging industry conditions and the offshore oil and gas helicopter market are likely to persist for the next several quarters.

in conclusion we believe the challenging industry conditions in the offshore oil and gas helicopter market are likely to persist for the next several quarters


Against the backdrop of spread compression in the broader credit markets, we maintained our asset selector mentality,

against the backdrop of spread compression in the broader credit markets we maintain our asset selector mentality


Already you mentioned you don't have much clarity on what will happen on the macro, so you don't have anything to share

already you mentioned you don't have much clarity on what will happen on the macro so you don't have anything to share


channel is very much tied into oil and gas, either directly or indirectly when you have a direct exposure to oil and gas when you're renting equipment into the

channel is very much tied into oil and gas either directly or indirectly when you have a direct exposure to oil and gas when you're renting equipment into the


These investments continue to be made organically and may be areas of focus for us from an acquisition standpoint in the future.

these investments continue to be made organically and may be areas of focus for us from an acquisition standpoint in the future


The combination of our retail products and expertise and MTY's broader reach will position us for future success in this area.

the combination of our retail products and expertise and mty's broader reach will position us for future success in this area


Amidst weaker macroeconomic data, we continue to view these targets as reasonable based on the progress we're seeing in our operational initiatives,

amidst weaker macroeconomic data we continue to view these targets as reasonable based on the progress we're seeing in our operational initiatives


Certain costs below segment income need to be normalized to align with the post-spin SPX. Corporate expense includes costs for individuals and other expenditures

certain costs below segment income need to be normalized to align with the post-spin spx corporate expense includes costs for individuals and other expenditures


Thanks, Jason. Before I discuss our outlook, I want to reflect for a moment on how our business has evolved over the past 4 years and more importantly,

thanks jason before i discuss our outlook i want to reflect for a moment on how our business has evolved over the past 4 years and more importantly


Yes, it's hard to tell, but what we do know is we did not have the inventory we plan to have and use. We just couldn't find quality inventory. We're not going to

yes it's hard to tell but what we do know is we did not have the inventory we planned to have in use we just couldn't find quality inventory we're not going to


That said, we will participate in this consultation and are currently evaluating the various questions and proposals put forth by the government in the paper.

that said we will participate in this consultation and are currently evaluating the various questions and proposals put forth by the government in the paper


We are also continuing our improvements in responsible compliant sourcing, both independently and in cooperation with the regulators.

we are also continuing our improvements in responsible compliant sourcing both independently and in cooperation with the regulators


In short, we believe, affordable tuition and high academic quality provides differentiation and serves national interest by helping working adults succeed in their professions.

in short we believe affordable tuition and high academic quality provides differentiation and serves national interest by helping working adults succeed in their professions


a company based on solid foundations with an efficient structure and ready to face the challenges the market poses with a great performance potential.


Along with the emphasis on contents and product, the Tinkoff acquisition machine is revving up to double our active customer base in the next few years.

along with the emphasis on content and product the tinkoff acquisition machine is revving up to double our active customer base in the next few years


addicted to opioids based on a whole series of factors we're able to take from the data that we would have around those individuals, their prescribers, their conditions and so forth.

addicted to opioids based on a whole series of factors we're able to take from the data that we would have around those individuals their prescribers their conditions and so forth


an inquiry, an official inquiry to see how we can run the company with more transparency. But the short-term

an inquiry an official inquiry to see how we can run the company with more transparency but the short term


and where there may be opportunities ahead that we can capitalize on. It's been an amazing experience overall, and I'm encouraged and energized by the opportunities I see for our company.

and where there may be opportunities ahead that we can capitalize on it's been an amazing experience overall and i'm encouraged and energized by the opportunities i see for our company


we -- that's not going to inhibit anything we do. One other thing I would tell you. About 3 weeks ago, I got to go to Dallas because we got named

we -- that's not going to inhibit anything we do one other thing i will tell you about 3 weeks ago i got to go to dallas because we got named


When you're talking about seasonal business, you make a change in Christmas '15, that change now

when you're talking about seasonal business you make a change in christmas '15 that change now


We achieved solid results from each of our business segments and remain steadfast on managing costs and operating efficiently.

we achieved solid results from each of our business segments and remained steadfast on managing costs and operating efficiently


The second transaction was our acquisition of companies owned by the Bass family, which more than doubled our Permian Basin resources.

the second transaction was our acquisition of companies owned by the bass family which more than doubled our permian basin resources


And we just won't buy cattle under a certain level. And so the fixed investment is still very low relative to the opportunity. And so

and we just won't buy cattle under a certain level and so the fixed investment is still very low relative to the opportunity and so


we continue to be comfortable with this level of charge-offs, given the yield that we're generating off of our portfolio. So effectively, we look at

we continue to be comfortable with this level of charge-off given the yield that we're generating off of our portfolio so effectively we look at


again, we don't have any specific time line, but what I can say is at this stage, we are looking at offering it as an additional feature

again we don't have any specific timeline but what i can say is at this stage we are looking at offering it as an additional feature


for a replay of this broadcast. It should be available later this evening and also a copy of the presentation material. Thank you.

for a replay of this broadcast it should be available later this evening and also a copy of the presentation materials thank you


The first indications are promising about the take up and inflow value of these propositions and our ability to upsell additional content packages.

the first indications are promising about the take-up and inflow value of these propositions and our ability to upsell additional content packages


and profitability. 2015 was a year of outstanding execution and of setting the stage for the future with some exciting growth initiatives.

and profitability 2015 was a year of outstanding execution and of setting the stage for the future with some exciting growth initiatives


but our top priority is transformation and then we'll strive to achieve the targets of this fiscal year.

but our top priority is transformation and then we strive to achieve the targets of this fiscal year


it's interesting because in some business plans, we actually see no material change in profits, yet we're showing these kind of negative fair value adjustments just because

it's interesting because in some business plans we actually see no material change in profits yet we're showing these kind of negative fair value adjustments just because


we actually want to do it now. So we have a very strong economy. It's certainly good for the people that if we do make any changes that the opportunity for them to get jobs is high.

we actually want to do it now so we have a very strong economy it's certainly good for the people that if we do make any changes that the opportunity for them to get jobs is high


I'll be updating you on our progress at our annual meeting in May and for some of you as we go back on the road with our story of growth and financial strength this spring.

i'll be updating you on our progress at our annual meeting in may and for some of you as we go back on the road with our story of growth and financial strength this spring


Second, in August, we completed the exchange offer for our Auction Market Preferred Shares, or AMPS, which we discussed in detail during our last earnings call,

second in august we completed the exchange offer for our auction market preferred shares or amps which we discussed in detail during our last earnings call


selling time productivity as we go forward. So that's an area that's getting a lot of work. We continue to invest in just core ERP capabilities

selling time productivity as we go forward so that's an area that's getting a lot of work we continue to invest in just core erp capabilities


kind of our view of the world and anticipate where commodity prices were going and working with our customers around efforts to recover


had an incentive that we earned for the first time this last year. Now it's a small amount, a few hundred thousand dollars, but we actually earned an incentive in our gas business.

had an incentive that we earned for the first time this last year now it's a small amount a few hundred thousand dollars but we actually earned an incentive in our gas business


Yes. It's a great question. That is a trend we continue to see, and we expect that trend to continue to grow. Private label or store brand or convenience in the case of our business in Europe,

yes it's a great question that is a trend we continue to see and we expect that trend to continue to grow private label or store brand or convenience in the case of our business in europe


Additionally, certain non-GAAP financial measures will be discussed on this conference call. The company's presentation of this information is not intended to be considered in isolation

additionally certain non-gaap financial measures will be discussed on this conference call the company's presentation of this information is not intended to be considered in isolation


Longer term, we believe that the favorable impact from our strategic programs will return growth to CDI with multi-year growth averaging high single digits

longer term we believe that the favorable impact from our strategic programs will return growth to cdi with multiyear growth averaging high single digits


Yes, Barrett, this is Barry. First of all, let me say that this was not a surprise to us. We spend a lot of time with Devon on the Barnett property.

yes barrett this is barrett first of all let me say that this was not a surprise to us we spend a lot of time with devon on the barnett property


we have a business space that we have continued for quite some time. Now, going forward, in terms of the base or the foundation of this business,

we have a business base that we have continued for quite some time now going forward in terms of the base or the foundation of this business


It's not necessarily quality with a customer, which is very good, but it's our quality cost that will go down and will improve our profitability as a whole.

it's not necessarily quality towards the customer which is very good but it's our quality cost that will go down and will improve our profitability as a whole


and we do have the lots for that to happen. But as Bill mentioned earlier, the timing of when communities roll off and when new ones roll on,

and we do have the lots for that to happen but as bill mentioned earlier the timing of when communities roll off and when new ones roll on